• News
    • Bitcoin
    • Altcoins
  • NFT
  • Metaverse
  • Analysis
  • Regulation
  • Learn
  • Market Cap
What's Hot

Coinbase receives Wells notice from SEC

2023-03-22

Woman Allegedly Involved in $4,000,000,000 ‘OneCoin’ Scheme Hit With Fraud Charges by the DOJ

2023-03-22

Coinbase Says US Banking Crisis Reinforcing Crypto Assets to the Upside, Catching Attention of Institutions

2023-03-22
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
Facebook TikTok Instagram YouTube
CryptoNewsMetaverse
  • News
    • Bitcoin
    • Altcoins
  • NFT

    U.S. IRS Considers Taxing NFTs Like Other Collectibles

    2023-03-21

    Meta Shuts Down NFT Project to Focus on FinTech and Content

    2023-03-14

    Solana’s Solend V2 Release, Is SOL Price $50 Next?

    2023-03-06

    Amazon NFT Marketplace To Reportedly Launch Next Month

    2023-03-06

    Blur Coin Under Fire As Allegations Of Wash Trading Emerge

    2023-03-01
  • Metaverse

    Exploring the Metaverse: A Guide to Investing in Metaverse Stocks

    2023-03-20

    A Guide to Virtual Land Staking in the Metaverse

    2023-03-20

    Nissan Doubles Down on Web3 Innovation

    2023-03-13

    As Fashion Moves into the Metaverse, What Other Industries Could Be Next

    2023-03-13

    South Korea Launches New ‘Metaverse Fund’

    2023-03-13
  • Analysis

    DOJ Officially Seizes Over $456,000,000 Worth of Robinhood Shares Tied to FTX Founder Sam Bankman-Fried

    2023-01-08

    Mark Cuban Makes Prediction on Next Crypto ‘Scandal,’ Warns of Potential Implosion if Exposed: Report

    2023-01-08

    Binance Listings Cause Crypto Assets To Spike an Average of 41%: New Research

    2023-01-08

    Bitcoin Whales Unloaded BTC As Market Reversed and Parked Their Profits in This Crypto Asset Class: Santiment

    2023-01-07

    Crypto Analyst Predicts Breakout for AI-Focused Altcoin, Updates Outlook on Ethereum and Lido DAO

    2023-01-07
  • Regulation

    Coinbase receives Wells notice from SEC

    2023-03-22

    Woman Allegedly Involved in $4,000,000,000 ‘OneCoin’ Scheme Hit With Fraud Charges by the DOJ

    2023-03-22

    Coinbase Says US Banking Crisis Reinforcing Crypto Assets to the Upside, Catching Attention of Institutions

    2023-03-22

    BitMEX Outlines Three Scenarios for Crypto This Year, Says Market Recovery a Likely Outcome

    2023-03-22

    OneCoin associate Irina Dilkinska charged following US extradition

    2023-03-21
  • Learn

    Chart Patterns Cheat Sheet For Technical Analysis

    2023-03-21

    Best NFT Wallets in 2023

    2023-03-21

    What are Dapps (Decentralized Applications) Crypto?

    2023-03-17

    How to Short Sell Bitcoin

    2023-03-17

    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

    2023-03-15
  • Market Cap
CryptoNewsMetaverse
Home»Regulation»SEC once again rejects ARK 21Shares Bitcoin ETF listing
Regulation

SEC once again rejects ARK 21Shares Bitcoin ETF listing

2023-01-28No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

The United States Securities and Exchange Commission has once again rejected a proposal to list the ARK 21 Shares Bitcoin ETF on equities exchange Cboe BZX, according to Jan. 26 statement from the SEC, which rejected a similar proposal in April.

The SEC has just now once again rejected ARK’s and 21Shares spot bitcoin, $BTC ETF listing.

— unusual_whales (@unusual_whales) January 26, 2023

The proposed exchange-traded fund would have been managed jointly by Cathie Wood’s ARK Investment Management and 21Shares if it had been approved. The purpose of the proposed fund was to allow investors to gain exposure to Bitcoin’s price within the confines of the regulated stock market.

The Cboe BZX Exchange had originally asked to list the ETF in June 2021. After the first application was rejected in 2022, it reapplied and made new legal arguments in an attempt to get the fund approved.

In its second application back in May, the Cboe BZX Equities Exchange argued that it has a “comprehensive surveillance-sharing agreement with a regulated market of significant size” that can prevent manipulation of prices. The ARK 21Shares Bitcoin ETF should therefore be allowed to be listed, the exchange argued. According to the application, this surveillance sharing agreement is with the Chicago Mercantile Exchange (CME), where Bitcoin futures contracts are traded.

The application also argued that most currency and commodity spot markets are unregulated, but this does not usually mean that an application will be rejected for that reason alone.

Related: SEC’s ‘one-dimensional’ approach is slowing progress: Grayscale CEO

In its response, the SEC rejected these arguments. It stated that the surveillance sharing agreement between Cboe BZX Equities Exchange and the CME does not apply to spot Bitcoin, since only Bitcoin futures contracts are traded at CME.

The SEC also claimed that having a surveillance sharing agreement is not always necessary, but if such an agreement does not exist, then the exchange must “establish that other means to prevent fraudulent and manipulative acts and practices will be sufficient.” It said that the exchange has not demonstrated this point, so it is not allowing the ETF to be listed.

The SEC has so far not approved any spot Bitcoin ETF to be listed on an exchange. Grayscale Investment Trust is seeking to convert its Bitcoin Trust into a spot Bitcoin ETF, and it has sued the SEC for rejecting its proposal. Oral arguments are scheduled to be heard for the Grayscale case in March.

Source link

21Shares Ark Bitcoin ETF Listing Rejects SEC
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Coinbase receives Wells notice from SEC

2023-03-22

Woman Allegedly Involved in $4,000,000,000 ‘OneCoin’ Scheme Hit With Fraud Charges by the DOJ

2023-03-22

Coinbase Says US Banking Crisis Reinforcing Crypto Assets to the Upside, Catching Attention of Institutions

2023-03-22

BitMEX Outlines Three Scenarios for Crypto This Year, Says Market Recovery a Likely Outcome

2023-03-22
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Ethereum Price To Reclaim $1,300, What Are The Possibilities?

2022-12-03

Kucoin Token Struggles To Hold Key Support At $8, How Low Can It Go?

2022-08-29

Weird cryptocurrencies to buy in October (2022)

2022-10-25

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Instagram YouTube TikTok
Top Insights

Coinbase receives Wells notice from SEC

2023-03-22

Woman Allegedly Involved in $4,000,000,000 ‘OneCoin’ Scheme Hit With Fraud Charges by the DOJ

2023-03-22

Coinbase Says US Banking Crisis Reinforcing Crypto Assets to the Upside, Catching Attention of Institutions

2023-03-22
Get Informed

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Cryptonewsmetaverse.com. Designed by ProdigitalX.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$27,543.00-2.78%
  • ethereumEthereum(ETH)$1,750.66-3.14%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.010.13%
  • binancecoinBNB(BNB)$322.26-4.87%
  • usd-coinUSD Coin(USDC)$1.00-0.34%
  • rippleXRP(XRP)$0.422707-10.06%
  • cardanoCardano(ADA)$0.357874-6.07%
  • dogecoinDogecoin(DOGE)$0.074497-2.45%
  • Lido Staked EtherLido Staked Ether(STETH)$1,739.71-3.60%